February 2018
LAS VEGAS
INSIDER A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS
LAS VEGAS INSIDER | F E BRUA RY 2 018
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Accelerating success.
MIKE’S QUOTE OF THE MONTH:
”I ’M A G REAT B E LI EVE R I N LUC K, AND I FIND THE HARDER I WORK, THE MORE LUCK I HAVE.” – THOMAS JEFFERSON
INAUGURAL SEASON ARGUABLY THE MOST IMPRESSIVE PIECE OF THE GOLDEN KNIGHTS’ STELLAR FIRST SEASON IS THE FACT THAT THEY ARE THE LONE TEAM IN THE LEAGUE PLAYING IN THEIR INAUGURAL YEAR.
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TWITTER.COM/COLLIERS_LV
TABLE OF CONTENTS: COLLIERS LAS VEGAS PERKS 4 TAX REFORM – LV RESEARCH 6 FEATURED DEALS 9
FEATURED LISTINGS 10 COLLIERS IN THE NEWS 11 UPCOMING EVENTS 13
VEGAS BY THE NUMBERS 14 BROKER OF THE MONTH 15 DIRECTORY 16
LAS VEGAS INSIDER | F E BRUA RY 2 018
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COLLIERS PERKS
HAVE IDEAS FOR A MONTHLY PERK? EMAIL LASGRAPHICS@LVCOLLIERS.COM TO SHARE!
Happy Valentine’s Day from Colliers Las Vegas. We celebrated in the Colliers Café on February 14th with heart shaped pizza delivery and sweet Valentine’s Day treats. Thank you to all that stopped by to share a slice.
WINNER! WINNER!
LINKS FOR LIFE
F O U N D A T I O N
KICKOFF YO U ’ R E T H E M I S S I N G L I N K
On January 31st, our team joined together at Gordon Biersch to discuss our plans to further stretch our Links for Life Foundation’s reach in 2018. We adopted the “Broker of the Month” contributions, started a monthly volunteer/donation opportunity to get involved and launched our new Links for Life Foundation website. We hope you enjoyed your lunch and that we will see continued participation from our team in this year’s activities.
LAS VEGAS INSIDER | F E BRUA RY 2 018
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LAS VEGAS RESEARCH
BY JOHN MATT STATER
TAX REFORM & REAL ESTATE If you have read the papers (yeah, right) lately, then you have no doubt heard of a tax reform bill recently passed in Washington D.C. Depending on your party affiliation, this was either a bold step in the right direction from making America great again, or the breaking of the first seal that leads directly to the apocalypse. In the real world, it falls somewhere between Heaven and Hell, and might actually be a boon for commercial real estate.
A FEW OF THE MAJOR POINTS IN THE BILL THAT MIGHT HAVE AN IMPACT ON COMMERCIAL REAL ESTATE ARE: •
The reduction of the income tax brackets from seven to three, at 12, 25 and 35 percent, with the option of a high bracket for wealthier individuals.
•
The reduction of the corporate tax rate to 20 percent from 35 percent, an important move in terms of making the United States more competitive as a place to headquarter companies.
•
A top rate of 25 percent applied to the business income of small and familyowned businesses.
•
Repeal of the estate tax.
How this will actually play out in the economy is, of course, open to interpretation. If there is any bad news here, it is that the tax bill will probably add to the national debt. Lower taxes will stimulate the economy, but the likelihood that they will stimulate the economy so much that tax revenues will rise with the lower rates is very unlikely. Higher national debt should ultimately push interest rates higher, which has a negative impact on purchases of real estate, residential and commercial. Debt now also means a need for higher taxes in the future to pay off that debt – essentially borrowing money from future generations to stimulate the economy today.
IN THE NEAR TERM, THERE ARE SEVERAL PROBABLE OUTCOMES FROM THE TAX REFORM THAT FAVOR COMMERCIAL REAL ESTATE: •
Property owners and investors should see their tax liabilities decline. This translates into more income from their properties, and also more wiggle room in terms of asking lease rates and/or more money for tenant improvements.
•
There is the potential for a small increase in consumer spending due to the tax bill, which would be a positive for the retail market. This boost will likely be minimal. A larger boost to the market is the lower taxes for the businesses that occupy retail real estate. That being said, tax reform will probably not bend the trend of higher growth for e-commerce than brick-and-mortar retail, or curb closures of large retailers like K-Mart, Toys R Us and Sears.
•
Lower benefits to owning homes in some states (i.e. those with very high property taxes) could push more people into multifamily rather than single family. If the Fed begins ratcheting up interest rates, the result could also be a decrease in home buying, and thus more people opting to rent.
The near term prospects of this tax reform are for a boost to the national economy (and hopefully local economy) and a slightly better environment for retail leasing and sales. The long term prospect is, unfortunately, the same long-term prospect we have faces for decades in terms of higher debt that will, eventually, have to be dealt with. At least while we’re kicking that can down the road, we can afford to do it in a brand new pair of sneakers.
LAS VEGAS INSIDER | FE BRUA RY 2 018
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24TH ANNUAL LINKS FOR LIFE GOLF TOURNAMENT :: MAY 17 :: SIENA GOLF CLUB
WANTED! BUT OUR SPONSORS ARE STILL AT LARGE! WE’RE SEARCHING FOR THE BEST IN THE WEST! CLICK TO VIEW SPONSORSHIP OPPORTUNITIES
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FEATURED DEALS
OFFICE SALE
INDUSTRIAL LEASE
±10,500 SQUARE FOOT OFFICE PROPERTY A sale to CDIN Holdings, LLC. The ±10,500 square foot office property is located in St. Rose Dominican’s San Martin Campus at 8440 West Warm Springs Road in Las Vegas. The transaction amount was $1,837,500.00. Grant Traub and Chris Connell of Colliers International represented the seller, DWSMC Holdings LLC. Stacy Scheer, CCIM, LEED GA of Colliers International represented the buyer.
±124,546 SQUARE FOOT INDUSTRIAL PROPERTY A lease to Xtreme Green Electric Vehicles, Inc. The ±124,546 square foot industrial property is located in Sunrise Industrial Park 6 at 2821 North Marion Drive in Las Vegas. Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane and Jerry Doty of Colliers International represented the landlord, Prologis NA3 NV LLC.
RETAIL SALE
INDUSTRIAL LEASE
±7,200 SQUARE FOOT AUTOZONE BUILDING A sale to Rainbow Ventures, LLC. The ±7,200 square foot AutoZone building is located at 4559 Blue Diamond Road in Las Vegas. The transaction amount was $1,684,210.00. David A. Grant of Colliers International represented the buyer.
±80,684 SQUARE FOOT INDUSTRIAL PROPERTY A lease to 24/7 Entertainment, LLC. The ±80,684 square foot industrial property is located in Stadium Industrial Park at 3850 & 3876 Ponderosa Way and 5959 & 5979 South Valley View Boulevard in Las Vegas. Dean Willmore, SIOR of Colliers International represented the landlord, FJM Valley View Associates, LLC.
INDUSTRIAL/OFFICE SALE ±8,700 SQUARE FOOT INDUSTRIAL/OFFICE PROPERTY A sale to T-Money Holdings, LLC. The ±8,700 square foot industrial/office property is located in Green Valley Commerce at 5 Longevity Drive in Henderson. The transaction amount was $949,000.00. Eric Molfetta, CCIM and Chris Zunis of Colliers International represented the seller, MOM, LLC.
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FEATURED LISTINGS
6360 SOUTH RAINBOW BOULEVARD
HACIENDA AVENUE AND I-215 LAND
ANDREW KILDUFF AND ALEXIA CROWLEY, CCIM, LEED GA
ROBERT TORRES AND SCOTT GRAGSON • ±10 Acres available for sale • Commercial Growth along the 215 is booming • Sale Price: $10,000,000
•
±6,590 SF available for lease
•
Advantageously positioned on S. Rainbow off of Sunset Rd., the property boasts direct access to the 215 Beltway
•
Lease Rate: $1.75/RSF/Mo. NNN
4550 SOUTH MARYLAND PARKWAY BRETT RATHER, STEVE NEIGER AND CHRIS CLIFFORD •
±3,000 SF available for lease
•
Situated directly across from the University of Nevada Las Vegas Student Union
•
Asking Lease: $2.25 PSF NNN
LAS VEGAS BOULEVARD AT CHEYENNE AND LAMB PAUL SWEETLAND, SIOR, CHRIS LANE AND JERRY DOTY • ±0.87 acres of land for sale or lease – storage lot industrial site • Ideal small development site • Sale Price: $450,000 / Lease Rate: $2,400 Per Month
NEC OF PECOS ROAD AND WIGWAM PARKWAY
NORTH 9TH STREET AND BONANZA
SCOT MARKER AND JULIE DORNAK
STEVEN HAYNES
•
Retail space available in ±100,000 sf shopping center
•
±0.16 acres for sale
•
City of Henderson: CN Zoning (Neighborhood Commercial)
•
Less than 1 mile from Cashman Field, Downtown Las
•
Multi Pads Available for Ground Lease, Asking $100,000$125,000 Per Annum.
Vegas & U.S. 95 Highway •
For Sale: $75,000
IN THE NEWS
SAVE SAVE THE THE DATE DATE
RAIDERVILLE: ADDITION OF NFL TEAM’S HEADQUARTERS COULD HAVE A RIPPLE EFFECT FOR DEVELOPMENT, REAL ESTATE IN HENDERSON https://vegasinc.lasvegassun.com/business/2018/ jan/29/raiderville-ition-of-nfl-teamsheadquarters-could/
January 29 FIRM BUYS INDUSTRIAL BUILDINGS NEAR MCCARRAN AIRPORT IN LAS VEGAS https://www.reviewjournal.com/business/firmbuys-industrial-buildings-near-mccarran-airportin-las-vegas/
February 02 MCA SIGNS NEW TENANT, SELLS 6 IN VEGAS https://www.cpexecutive.com/post/mca-signsnew-tenant-sells-6-in-vegas/
February 12
LF O G TOURNAMENT MAY SIENA
17 GOLF CLUB LAS VEGAS INSIDER | F E BRUA RY 2 018
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2017
TOP 10
THESE PROFESSIONALS REPRESENT THE TOP 10 REASONS TO PARTNER WITH COLLIERS INTERNATIONAL LAS VEGAS
Dan Doherty, SIOR
Mike Stuart
Dean Willmore, SIOR
Brian Riffel, SIOR
This year, 4 Colliers professionals in Las Vegas were recognized for their exceptional performance with the coveted Everest Club designation. Only the top 10% of Colliers professionals in the Americas reach this peak.
Chris Clifford
Pat Marsh, SIOR
Thomas Olivetti
Patti Dillon, SIOR
Taber Thill, SIOR
Grant Traub
We know that our achievements are founded in client relationships built on experience and enduring trust. Together, we are blazing trails toward collective success.
CONGRATULATIONS, YOU MADE THE PLANE!
2018 SALES AWARD TRIP MAUNA KEA BEACH RESORT, BIG ISLAND, HAWAII
FRIDAY, MARCH 8 – TUESDAY, MARCH 12, 2019
VINCE SCHETTLER* DAN DOHERTY, SIOR*
*These brokers qualified for the plane in January
UPCOMING EVENTS CREW LUNCHEON 11:30am Las Vegas Country Club MARCH 1 THE ALPHABET SOUP OF PROFESSIONAL DESIGNATIONS – NAIOP EDUCATION WORKSHOP 7:45am – Clark County Development Services Building MARCH 9 WALK FOR WISHES 7:00am – Town Square MARCH 10 CANDLELIGHTERS EVENING OF HOPE 6:00pm Enclave MARCH 10 DAYLIGHT SAVINGS BEGINS MARCH 11 MARCH MADNESS BRACKET PARTY 11:30am Main Conference Room MARCH 13
SIOR LUNCHEON 11:30am Maggiano’s at Fashion Show Mall MARCH 14
BROKER HAWAII SALES AWARD TRIP The Fairmont Kea Lani - Maui MARCH 16-20
NAIOP BREAKFAST 7:30am The Orleans Hotel MARCH 15
MONTHLY RETAIL MEETING 8:30am Main Conference Room MARCH 27
MONTHLY INDUSTRIAL MEETING 9:00am Main Conference Room MARCH 15
MONTHLY OFFICE MEETING 9:00am Main Conference Room MARCH 28
UNLV LIED INSTITUTE CAREER EXPO 12:00pm Student Union Ballroom A MARCH 15
CCIM LUNCHEON 11:30am - Palms Casino Resort MARCH 28
HAPPY ST. PATRICKS DAY MARCH 17 MONTHLY BIRTHDAY CELEBRATION 2:30pm Main Conference Room MARCH 29
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OFFICE HAPPENINGS
THE NUMBERS:
RETAIL
SALE
OFFICE 18%
5%
55%
JANUARY PROPERTY TYPES
LAND 43%
JANUARY
SALES VS. LEASE LEASE 45%
INDUSTRIAL 34%
TOP 10 AGENTS OF THE MONTH JANUARY 2018 1. 2. 3. 4. 5.
Vince Schettler Dan Doherty Mike Stuart Patti Dillon Taber Thill
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6. Dean Willmore 7. Pat Marsh 8. Dan Gluhaich 9. David Grant 10. Paul Sweetland
JANUARY OFFICE TRANSACTIONS
JANUARY 2018 ANNIVERSARIES Patrick McNaught
2003
15 Years
Patti Dillon
2004
14 Years
Keith Cubba
2005
13 Years
Gretchen Lee
2007
11 Years
Julie Dornak
2016
2 Years
Erica Aulino
2016
2 Years
Alexia Crowley
2017
1 Year
BROKER RANKINGS YTD 2018 1. Vince Schettler 2. Dan Doherty 3. Mike Stuart 4. Patti Dillon 5. Taber Thill 6. Dean Willmore 7. Pat Marsh 8. Dan Gluhaich 9. David Grant 10. Paul Sweetland 11. Spencer Pinter 12. Alexia Crowley 13. Chris Lane 14. Al Twainy 15. Steven Neiger 16. Chris Clifford
Vince Schettler Dan Doherty Mike Stuart -
85/15 CLUB
17. Grant Traub 18. Phillip Dunning 19. Brian Riffel 20. Chris Connell 21. Scot Marker 22. Susan Borst 23. Stacy Scheer 24. Kara Walker 25. Suzette Lagrange 26. Jerry Doty 27. Thomas Olivetti 28. Andrew Kilduff 29. Eric Molfetta 30. Keith Cubba 31. Patrick McNaught 32. Chris Lobello
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33. Mike Mixer 34. Brian Fike 35. Steven Haynes 36. Phillip Frank 37. Rebecca Staniec 38. Chris Bentley 39. Joe Bonifatto 40. Scott Gragson 41. George Connor 42. Robert Torres 43. Tom Naseef 44. Garry Cuff 45. Jeff Naseef 46. Sam Newman 47. John Kilpatrick
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BROKER OF THE MONTH
CO NG RA T UL A T IO NS VINCE SCHETTLER
CHRIS LOBELLO
Senior Vice President Land Division
Mr. Schettler was a visionary for the Mountain’s Edge Master Planned Community from its inception, where he served as the sole acquisitions contact, successfully negotiating more than 300 separate land acquisitions that make up the 3,500 acre master planned community. Mr. Schettler also contributed to many other notable projects, inclusive of being the sole land acquisition development specialist for the Nevada Trails and Cactus Hills MPC’s; the Providence MPC (Top selling MPC each of the past 5 years); Inspirada MPC; and many other residential, multi family, commercial and gaming developments.
Q
Are you a listener or a talker?
A
I like to listen to me talk
Q
What’s the worst haircut you’ve ever had?
A
I was 15 and I got the ‘Ring of Saturn’ from the ‘House of Six Salon’.....Meaning $6 haircut at a training salon
Q
What famous person do other people say you most resemble?
A
Ryan Reynolds in ‘Just Friends’
Q
What is your pet peeve in traffic?
A
My own ‘Road Rage’
Vice President Investment Division Brokerage & Receivership Christopher is an investment sales specialist in the Investment Division at the Colliers Las Vegas Office. Christopher has over twenty-two years of experience in multiple facets of real estate transactions and is a highly experienced commercial investment real estate broker. He also oversees the Asset Resolutions Division for the Las Vegas Office. Acting as a court appointed receiver, he responds to conditions impacting under - and non-performing assets to restore order and maintain a property.
Q
People who ride their brakes for nothing
Q
If someone made a movie of your life would it be a drama, a comedy, action-film, or science fiction?
A
A combination comedy and drama and Vin Diesel would have to play me.
Q
Would you rather be invisible or be able to read minds?
Ability to read minds of others is knowledge and knowledge is power.
LINKS FOR LIFE A
.O.T.M. ONATION
What is your pet peeve in traffic?
F O QU N D A T I O N What famous person do other people say you most resemble?
A The Links for Life Foundation is donating in Vince Schettler’s name to The Schettler Family Foundation
Kevin James, but I think they really mean Vince Vaughan.
LAS VEGAS INSIDER | F EBRUA RY 2 018
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LAS VEGAS PHONE DIRECTORY INDUSTRIAL Susan Borst Dan Doherty Jerry Doty Tyler Jones Suzette LaGrange Chris Lane Pat Marsh Eric Molfetta Sam Newman Spencer Pinter Brian Riffel Alexander Stanisic Paul Sweetland Kara Walker Dean Willmore Mike Willmore Chris Zunis
LAND +1 702 836 3719 +1 702 836 3707 +1 702 836 3735 +1 702 836 3754 +1 702 836 3799 +1 702 836 3728 +1 702 836 3741 +1 702 836 3756 +1 702 836 3724 +1 702 836 3776 +1 702 836 3773 +1 702 836 3742 +1 702 836 3750 +1 702 836 3705 +1 702 836 3763 +1 702 836 3748 +1 702 836 3703
OFFICE Chris Connell Patti Dillon Phillip Frank Andrew Kilduff Rebecca Staniec Taber Thill
+1 702 836 3709 +1 702 836 3790 +1 702 836 3775 +1 702 836 3718 +1 702 836 3792 +1 702 836 3796
Scott Gragson Steven Haynes John Kilpatrick Pat McNaught Taylor Schettler Vince Schettler Mike Stuart Robert Torres
+1 702 836 3730 +1 702 836 3727 +1 702 499 8999 +1 702 836 3798 +1 702 836 3717 +1 702 836 3764 +1 702 836 3739 +1 702 836 3788
HOTEL/RESORT Mike Mixer Dharmesh Patel
+1 702 836 3777 +1 702 836 3713
INVESTMENT SERVICES Joe Bonifatto Brian Fike Tom Naseef Gaberiel Skerlich Grant Traub
+1 702 836 3729 +1 702 836 3744 +1 702 836 3720 +1 702 836 3708 +1 702 836 3789
GOLF COURSE Keith Cubba
+1 702 836 3733
MULTI-FAMILY RETAIL Chris Clifford George Connor Phillip Dunning Dan Gluhaich David Grant Amelia Hyden Scot Marker Steve Neiger Brett Rather Al Twainy
+1 702 836 3746 +1 702 836 3786 +1 702 836 3766 +1 702 836 3757 +1 702 836 3785 +1 702 836 3774 +1 702 836 3782 +1 702 836 3760 +1 702 836 3794 +1 702 836 3725
Christopher Bentley Garry Cuff Jeff Naseef Tom Naseef Thomas Olivetti
MEDICAL OFFICE Alexia Crowley Stacy Scheer
+1 702 836 3778 +1 702 836 3762
VALUATION SERVICES Rosa Haley Richard Koldewyn Evan Ranes
+1 702 836 3702 +1 702 836 3738 +1 702 836 3749
PROPERTY MANAGEMENT Erica Aulino Valerene Corbin Jennifer Kennedy Breanna Lara Gretchen Lee Angelina Scarcelli
+1 702 836 3745 +1 702 836 3761 +1 702 836 3772 +1 702 836 3753 +1 702 836 3704 +1 702 836 3768
STAFF Nicole Cauilan Courtney Goffstein Alisa Husic Sara Johansson Gina Jones Matt Stater Chris Sutton
+1 702 836 3706 +1 702 836 3710 +1 702 836 3701 +1 702 836 3771 +1 702 836 3783 +1 702 836 3781 +1 702 836 3721
+1 702 836 3779 +1 702 836 3716 +1 702 836 3731 +1 702 836 3720 +1 702 836 3740
RECEIVERSHIP Christopher LoBello
+1 702 836 3714
MIKE MIXER
Executive Managing Director | Las Vegas
+1 702 735 5700